SBI Invests $100M in Palmer Luckey-Backed Digital Bank Erebor
SBI Holdings' $100 million investment in Erebor Bank marks a strategic move into US digital banking and blockchain settlement.
SBI Holdings' $100 million investment in Erebor Bank marks a strategic move into US digital banking and blockchain settlement. Bitway (BTW) is trading at ₹88.6 ($0.9333), down 1.5% since this brief published. This is an original Token Times brief based on reporting by Cryptopolitan, with live market data added, as of Tue, 03 Nov 2026 07:00:01 UTC.
This investment signifies SBI Holdings' strategic expansion into US digital banking and blockchain technology, leveraging Erebor's 24/7 blockchain settlement capabilities. It also underscores growing institutional interest in digital-first banking solutions.
- SBI Holdings invests $100M in Erebor Bank, a digital bank co-founded by Palmer Luckey.
- Erebor offers 24/7 blockchain settlement, attracting SBI's strategic interest.
- The investment comes amid a broader market downturn, with Bitcoin down 1.96% in 24 hours.
SBI Holdings, a major Japanese financial services company, has announced a $100 million investment in Erebor Bank, an Ohio-based digital bank co-founded by Palmer Luckey, the founder of defense tech firm Anduril. This strategic investment aims to give SBI exposure to the US banking sector and leverage Erebor's 24/7 blockchain settlement capabilities.
The investment comes at a time when digital banking and blockchain technology are gaining traction, with traditional financial institutions seeking to integrate these innovations. Erebor Bank's model, which combines digital banking with blockchain settlement, aligns with SBI's vision of a more efficient and transparent financial ecosystem.
In a separate development, Live 
Bitcoin News and Bitcoin Sistemi report a significant token unlock event for 
Bitway (BTW) on November 2, with approximately 101.62 million BTW tokens entering circulation, valued at around $110 million at the time. This unlock, part of a monthly vesting schedule, did not increase the token's total supply but coincided with a 9.38% drop in BTW's price over the past 24 hours.
The broader cryptocurrency market remains in a downturn, with the total market cap at $2.64 trillion and Bitcoin experiencing a 1.96% decline in the last 24 hours. The Fear & Greed Index stands at 26, indicating a 'Fear' sentiment among investors. Bitway's market cap is currently $1.42 billion, with the token trading at $0.947216.
The SBI-Erebor partnership highlights the growing convergence of traditional finance and digital assets, while the Bitway token unlock underscores the volatility and liquidity dynamics in the altcoin market. Investors and stakeholders will be watching how these developments unfold and their impact on the broader financial landscape.
Since this brief published about 10 hours ago, Bitway (BTW) has moved from ₹89.92$0.9472 to ₹88.60$0.9333 — -1.46%.
The chart plots BTW's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTW ≈ ₹96.83 (about $0.9333), down 8.3% over 24 hours. The rupee itself trades about 9.3% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 3, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
SBI Invests $100M in Palmer Luckey-Backed Digital Bank Erebo — questions & answers
What is Erebor Bank's main offering?
Erebor Bank offers 24/7 blockchain settlement, attracting SBI Holdings' strategic investment.
How much did SBI Holdings invest in Erebor Bank?
SBI Holdings invested $100 million in Erebor Bank.
What is the significance of the Bitway token unlock?
The Bitway token unlock released 101.62 million BTW tokens, worth $110 million, into circulation, causing a 9.38% price drop.
How much is 1 Bitway worth in rupee today?
About ₹96.83 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.9333. The rupee price moves with both BTW's US-dollar price and the USDT/INR rate; use our Bitway in rupee page for any amount.
Has Bitway's price moved since this brief was published?
BTW is down 1.46% since this brief first published — trading at ₹88.6 ($0.9333) now versus ₹89.92 ($0.9472) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Cryptopolitan. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.